Bureau of Local Government Finance Opinion

February 10, 2000 BUREAU OF LOCAL GOVERNMENT FINANCE OPINION Mr. Maximo P. Tenorio President Pamayanan Samahan ng Bagong Pag-Asa, Inc. PSBP Building, Bagong Pag-Asa Compound Pilar Village, Las Pias City Metro Manila S i r : This refers to your letter dated August 12, 1999, requesting exemption from the payment of real property taxes on the seven (7) parcels of land identified as Lot Nos. 3-A, B, C, D, E, F and H comprising the PSBP community, pursuant to PD 2016. In this connection, enclosed is a copy of our 1st Indorsement of the same date, wherein this Bureau ruled that "the subject properties which are occupied by the members of the PSBP should be declared exempt from the payment of real property taxes beginning 1987 up to 1991; and transferred to the Taxable Roll beginning 1992, the year following the Local Government Code of 1991 took effect, considering the withdrawal of exemption provisions of Section 234 thereof and Article III, B(2) of Assessment Regulations No. 3-75, dated February 14, 1975." DIAcTE Very truly yours, (SGD.) ANGELINA M. MAGSINO Deputy Executive Director Officer-in-Charge